Acme’s owner, Albertsons Companies, To Pay Dividends: Officials

MALVERN, PA —Albertsons Companies, the owner of Acme Market, based in Malvern, has declared a special cash dividend of $6.85 per share payable on Nov. 7 to stockholders.

The $4 billion dividend was declared in connection with the sale of Idaho-based Albertsons to Kroger, a chain of grocery stores based in Cincinnati, for $25 billion in stock.

The merger between the two grocers will bring 5,000 stores that include Albertsons’ Safeway, and Kroger-owned Ralphs and Fred Meyer.

The merger is expected to take place within 18 to 24 months.

The impact of the merger on the local Acme stores has not been disclosed.

Albertsons' officials said in a prepared statement to Patch.com that the merger provides significant benefits to consumers, associates and consumers and offers a compelling alternative to larger and non-union competitors.

“The merger and special dividend make the successful outcome of the strategic review we launched in February, which considered a wide range of options to build on our success and deliver enhanced values for our stakeholders.

"Following the dividend payment, Albertsons Cos. will continue to be well capitalized with a low debt profile and strong free cash flow," the statement said.

Albersons' officials are confident the company will maintain its strong financial position while working toward the merger.

Kroger, the buyer, previously said the company hopes to save an eventual $1 billion by combining food processing, operations and sourcing operations, and adding labor saving technology.

The deal combines the second- and third-largest U.S. grocers — behind Walmart — who together employ over 700,000 workers at 5,000 food markets, nearly 4,000 drugstores, and 2,000 gas stations

Acme’s history in Pennsylvania

• Acme has been a high-profile supermarket chain in the Philadelphia region for decades.
• There are 164 Acme Markets in Pennsylvania, and nearby New Jersey, Delaware, New York and Connecticut.
• Acme originated in 1891 when friends Samuel Robinson and Robert Crawford decided to open a neighborhood store in South Philadelphia at Second and Fernon streets.
• In 1937, it expanded to a full service market called Acme.
• In 1999, Albertsons Cos., acquired Acme.